1. Field of Invention
The present invention generally relates to transactions subject to U.S. state and local sales and use tax. More specifically, the invention relates to a dynamic, rule-based, tax-decision system for determining taxably relevant data associated with a taxable transaction.
2. Description of Related Art
As technological development continues at a rapid pace, there has been a push towards more efficient business solutions that utilize enterprise software, which is computer software designed to integrate and automate all of a company's functions. Enterprise software has been used in performing many basic functions, including accounting. Enterprise software solutions are designed to provide global processes for organizations. As such, they typically offer basic tax calculations to perform sales tax calculations but do not include more complex calculations, such as use tax calculations. Consequently, enterprise software may obtain these kinds of calculations from external complex tax software packages. The use of differing platforms and the need for varying types of information, as well as other issues, may make the exchange of information between enterprise software and complex tax software packages inefficient. Enterprise software does not target the most relevant data for tax decisions and does not provide tax calculations. Thus, unmet needs remain in the current art between enterprise software and complex tax software packages.